(ABM FN) In addition to the Dutch KPN, Orange Belgium and Telenet are also attractive acquisition targets. ING analysts said this on Monday in response to the news that the Swedish EQT has shown interest in acquiring the Dutch KPN.
According to the analysts, Liberty could be interested in acquiring Telenet, while Orange could take in its Belgian counterpart, ING said. These are “speculations”, the bank emphasized.
Overall, the telecom sector is performing poorly, according to ING. This year, telecom stocks are down 19 percent, far more than the market corrected. And that, according to ING, while telecom companies are hardly affected by the corona crisis. According to the analysts, that is also the reason that there have already been takeover bids on TalkTalk, Play, Altice Europe and Sunrise.
ING uses a buy advice for Orange Belgium with a price target of 29.00 euros, while it has a Houden advice for Telenet with a price target of 40.00 euros.
Orange Belgium’s share was 1.4 percent higher on Monday, while Telenet rose 0.5 percent.
ABM Financial News; [email protected]; Redactie: +31(0)20 26 28 999.
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